FILE - This Monday, Dec. 17, 2012 file photo released by NBC shows Cassadee Pope performing on "The Voice," "Live Show" Episode 323A on the part one season 3 finale in Los Angeles. Pope won the singing competition for season 3 on Dec. 18, 2012. Powered by football and "The Voice," NBC took the lead in the ratings last week. (AP Photo/NBC, Tyler Golden, File)

Washington Redskins cornerback DeAngelo Hall (23) celebrates with quarterback Robert Griffin III (10) after an NFL football game against the Dallas Cowboys on Sunday, Dec. 30, 2012, in Landover, Md. The Redskins won 28-18, securing a playoff berth. (AP Photo/Nick Wass)

New York Jets defensive end Quinton Coples (98) knocks the ball away from Carolina Panthers quarterback Cam Newton (1) during the first half of a preseason NFL football game, Sunday, Aug. 26, 2012, in East Rutherford, N.J. (AP Photo/Julio Cortez)

FILE - This Jan. 9, 2013 file photo shows Alicia Keys performing at the People's Choice Awards in Los Angeles. Keys will perform the national anthem before the NFL championship game on Feb. 3 in New Orleans, a person familiar with Super Bowl entertainment plans told The Associated Press on Friday, Jan. 18. (Photo by Chris Pizzello/Invision/AP, file)

NEW YORK (AP) — Strong earnings reports from media giants Disney and Time Warner aren't impressing investors in early trading, and major U.S. market indexes are opening lower.

The Dow Jones industrial average fell 60 points to 13,921 shortly after the opening bell Wednesday. It rose 99 points the day before.

The Standard & Poor's 500 fell five points to 1,506 and the Nasdaq composite fell eight points to 3,163.

With no major economic news coming out, investors were focused on the latest earnings reports from U.S. companies.

Time Warner rose after reporting a 51 percent profit jump, citing rising fees from cable and satellite companies and higher ad revenue at its TV networks. Disney rose after turning in results that were better than analysts had expected.